Sweden-based caller ID company Truecaller said it will cut 70 jobs, or roughly 15% of its workforce, in the second quarter, as the company posted its Q1 2026 results with a decline in revenue and profits. Truecaller blamed real-money gaming in India, changes in advertising partner algorithms, and conflict in the Middle East for the slide. As TechCrunch reported last month, the company is already facing challenges from India’s telecom-led solutions, such as  Calling Name Presentation (CNAP) identification service, and 5% year-on-year decline in downloads last year. In its Q1 2026 results, Truecaller’s net sales dropped 27% to 362 million SEK ($39.34 million). In its biggest market, India, net sales dipped by 41% year-on-year. In addition, ad revenues declined by 44%. “The year-on-year comparison looks especially weak given that Q1 and Q2 last year included a large contribution coming from the real money gaming sector in India in connection with the IPL season that takes place around this time.…